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Declines From Nokia Oyj (NOK) Drive Down Technology Sector

Editor's Note: TheStreet ratings do not represent the views of TheStreet's staff or its contributors. Ratings are established by computer based on metrics for performance (which includes growth, stock performance, efficiency and valuation) and risk (volatility and solvency). Companies with poor cash flow or high debt levels tend to earn lower ratings in our model.

Nokia Oyj (
NOK) pushed the Technology sector lower today making it today's featured Technology laggard. The sector as a whole closed the day up 0.5%. By the end of trading, Nokia Oyj fell 6 cents (-1.8%) to $3.28 on light volume. Throughout the day, 37 million shares of Nokia Oyj exchanged hands as compared to its average daily volume of 57.1 million shares. The stock ranged in price between $3.26-$3.33 after having opened the day at $3.29 as compared to the previous trading day's close of $3.34. Other companies within the Technology sector that declined today were:
Deltathree (
DDDC), down 11.1%,
TranSwitch Corporation (
TXCC), down 8.5%,
SemiLEDs (
LEDS), down 8%, and
Dynasil Corporation of America (
DYSL), down 7.9%.

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Nokia Corporation operates as a mobile communications company worldwide. It operates in three segments: Devices & Services, HERE, and Nokia Siemens Networks. Nokia Oyj has a market cap of $12.36 billion and is part of the telecommunications industry. Shares are down 15.4% year to date as of the close of trading on Wednesday. Currently there are four analysts that rate Nokia Oyj a buy, nine analysts rate it a sell, and six rate it a hold.

TheStreet Ratings rates Nokia Oyj as a
sell. The company's weaknesses can be seen in multiple areas, such as its disappointing return on equity, weak operating cash flow and generally disappointing historical performance in the stock itself.